Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Following is the balance sheet of Finch Company for Year 3: 12. polnts FINCH COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property
Following is the balance sheet of Finch Company for Year 3: 12. polnts FINCH COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 15,359 7,740 13,400 11,150 166,500 (12,900) $ 201,240 eBook Hint $ 8,420 3,120 4,700 21,360 113,900 49,740 $ 201, 240 Ask Print The average number of common stock shares outstanding during Year 3 was 870 shares. Net income for the year was $14,900. References Required Compute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45.) per share a. Current ratio b. Earnings per share c. Quick (acid-test) ratio d. Return on investment e. Return on equity f Debt to equity ratio % %
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started